Governor Signs Colorado CU Governance Bill

On Friday, April 15, Colorado Governor John Hickenlooper held a ceremony as he signed SB 125: Credit Union Governance into law. The new law will give state chartered credit unions in Colorado the ability to compensate board members, as well as allow an audit committee to replace a supervisory committee. The new law goes into effect August 10, 2016.

CO SB 125 Credit Union Governance signing

Pictured at the bill signing from left to right: Joe Neguse, Executive Director of DORA; Chris Kemm, VP of Political Affairs for the Mountain West Credit Union Association; Representative Tracy Kraft-Tharp, House bill sponsor; Patti Salazar, Commissioner of Financial Services; Governor Hickenlooper; Mike Litzau, EVP of Sooper CU; Todd Marksberry, President/CEO of Public Service Credit Union; Greg Mills, President CEO of Aventa Credit Union; and Senator Chris Holbert, Senate bill sponsor.